As noted yesterday in our newsletter, IOTA was indeed coiling up for another breakout as it rejected the central moving average of the KRI, and broke out from the dragon head pattern, testing the upper bound of the KRI before letting up steam. It seems IOTA is a bit ahead of the other Altcoins in terms of the Elliott Wave
. It appears to have completed the corrective phase, and has begun the impulse phase of the next wave.
Interested in the Altcoin Index and the Crypto Spread Indicator? Check them out here
For daily commentary on cryptocurrencies, subscribe to our newsletter